Mackenzie Financial Corp Purchases 39,493 Shares of Ally Financial Inc. (NYSE:ALLY)

Mackenzie Financial Corp increased its position in Ally Financial Inc. (NYSE:ALLY - Free Report) by 104.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,137 shares of the financial services provider's stock after buying an additional 39,493 shares during the period. Mackenzie Financial Corp's holdings in Ally Financial were worth $2,778,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ALLY. Principal Securities Inc. increased its holdings in Ally Financial by 89.4% in the fourth quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider's stock worth $38,000 after buying an additional 496 shares during the last quarter. Kestra Investment Management LLC bought a new stake in Ally Financial during the fourth quarter worth approximately $43,000. Harbour Investments Inc. boosted its position in Ally Financial by 38.5% during the fourth quarter. Harbour Investments Inc. now owns 2,142 shares of the financial services provider's stock worth $77,000 after purchasing an additional 595 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Ally Financial during the fourth quarter worth approximately $78,000. Finally, Van ECK Associates Corp bought a new stake in Ally Financial during the fourth quarter worth approximately $85,000. Institutional investors and hedge funds own 88.76% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALLY. JPMorgan Chase & Co. decreased their target price on Ally Financial from $43.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company decreased their target price on Ally Financial from $34.00 to $32.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. The Goldman Sachs Group upped their target price on Ally Financial from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Wall Street Zen raised Ally Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 23rd. Finally, BTIG Research cut Ally Financial from a "neutral" rating to a "sell" rating and set a $30.00 price objective for the company. in a research report on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $41.69.

Insiders Place Their Bets

In other Ally Financial news, CFO Russell E. Hutchinson bought 8,200 shares of the stock in a transaction dated Tuesday, April 22nd. The stock was bought at an average cost of $30.81 per share, for a total transaction of $252,642.00. Following the completion of the purchase, the chief financial officer now owns 236,421 shares in the company, valued at $7,284,131.01. This represents a 3.59% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephanie N. Richard sold 8,000 shares of the firm's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $32.14, for a total value of $257,120.00. Following the completion of the sale, the insider now owns 90,387 shares of the company's stock, valued at approximately $2,905,038.18. This trade represents a 8.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company's stock.

Ally Financial Price Performance

Shares of ALLY traded down $0.27 during mid-day trading on Friday, reaching $35.01. The company had a trading volume of 23,849,801 shares, compared to its average volume of 3,694,789. The company's 50-day moving average is $33.77 and its 200-day moving average is $35.86. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $10.75 billion, a P/E ratio of 13.47, a P/E/G ratio of 0.32 and a beta of 1.14. Ally Financial Inc. has a twelve month low of $29.52 and a twelve month high of $45.46.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.15. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period in the prior year, the company posted $0.45 earnings per share. On average, equities analysts anticipate that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, May 1st. This represents a $1.20 annualized dividend and a yield of 3.43%. Ally Financial's dividend payout ratio is currently 88.24%.

Ally Financial Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.